A generalized multi-country endogenous growth model |
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Authors: | Lutz G Arnold |
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Institution: | (1) Department of Economics, Economic Theory, University of Regensburg, 93040 Regensburg, Germany |
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Abstract: | The transitional dynamics of open-economy endogenous growth models are largely unexplored. The present paper fills this gap
in the literature. By applying the familiar Travis–Dixit–Norman (Dixit and Norman, Theory of International Trade, Cambridge University Press, Cambridge, UK, 1980) approach to a general class of growth models, it provides original results on the transitional dynamics of the multi-country
open-economy versions of several prominent special cases, including the models of Romer (J Polit Econ, 94:1002–1037, 1986; J Polit Econ 98:S71–S102, 1990), Lucas (J Monet Econ, 22:3–42, 1988), Grossman and Helpman (Innovation and Growth in the Global Economy. MIT Press, Cambridge, MA, 1991a, Chaps. 3 and 4; Rev Econ Stud 58:43–61, 1991b), Jones (J Polit Econ, 103:759–784, 1995a), and Segerstrom (Am Econ Rev, 88:1290–1310, 1998). This approach also shows that, in the class of models considered, the question of whether or not international economic
integration accelerates growth in the long run is equivalent to the question of whether or not scale effects prevail.
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Keywords: | international trade international knowledge spillovers multinational corporations international patent licensing economic growth |
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